While it may seem like an interesting place to look for inspiration, the beer industry has been working a lot over the past decade to appeal to newer and wider audiences. While the demand for beer has continued to grow, so has the competition. That’s why, when it comes to an industry to look at in terms of innovation, there are three key lessons we can learn from the beer industry.
1. Consider New Product Various
Once focused on producing cheap beer for guys watching football games or taking a night at the bar, the first big shift was in the late 70s when light beers started coming out and gaining popularity among carb-conscious beer drinkers. In more recent years, we’ve seen popular beer producers add things like craft beers and hard seltzers to their product lines, making beer sought after by a much wider audience of consumers.
So what can we learn from this? Consider how you can adapt a common product to make it a more luxurious, sought-after option for more people. Beer brands saw that they could capture markets of men and women who were already at the bar opting for something more refined, so with a wider range of offerings, they’re able to capture a larger segment of the alcoholic beverage market.
2. Keep Up With Market Trends
One of the biggest trends we’ve seen take off in the past few decades has been for craft breweries. With the growing popularity of small breweries that focus on refined flavors and nuances, it’s clear that consumers are craving more from their beer than just the cheapest pitcher they can get.
Larger companies have worked to create their own craft beer offerings, focusing on quality over quantity, and even introducing limited edition craft flavors. Once those familiar, household name beer brands started offering craft beer options alongside their classics, they’ve seen some amazing growth.
3. Don’t Be Afraid to Try Something Big
With more and more people becoming health-conscious, we’ve started to see a spike in the desire for no-alcoholic beer. Some companies have already hopped on, offering a version of their favorite products without alcohol. Many people reach for non-alcoholic brews when they know they’ll be driving, or if they love the taste but don’t love the hangover. After all, brewers aren’t really selling beer, they’re selling good times with family and friends— so these products offer a solution for more to join in on the fun.
This is just one example of many large industries we could turn to for lessons and examples on innovation and market growth.
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